Kimberly-Clark’s fourth-quarter net sales down 3 per cent

Kimberly-Clark has announced its fourth-quarter 2008 results, noting its net sales over the period were down three per cent on 2007’s total.

Now at $4.6 billion (3.3 billion pounds), the amount was blamed on weaker currency exchange rates.

The organisation also announced its diluted net income for the quarter was down from $1.07 to $1.01 per share, while sales of Kimberly-Clark’s personal care products dropped 2.5 per cent from the same period in 2007.

Commenting on the figures, chairman and chief executive officer Thomas Falk said: “During the fourth quarter, economic weakness impacted our categories more than anticipated, particularly in North America and Europe.

“We believe some of the effects are temporary, reflecting customer warehouse and consumer pantry inventory reductions.”

As a result of the results, the company has said it will be reviewing its 2009 business outlook.

In November, Kimberly-Clark’s board of directors announced a quarterly dividend of $0.58 per share.